The latest news of interest to multifamily housing investors in Oregon and Washington.
Build Your Legacy with HFO.

Friday, July 14, 2017

Portland City Council Passes "Fixes" to Renter Relocation Law

The Portland Mercury reports that the Portland City Council has voted to address some outstanding issues with the renter relocation ordinance. The revisions give tenants 45 days to request payments, up from 14 days, and gives landlords 31 days to provide payment. After a rent increase goes into affect, tenants now have six months to decide whether to give notice that they will leave or choose to stay and repay the relocation money. The Council also closed the "loophole" that allowed landlords who owned their properties under different LLCs to evade having to pay relocation costs. The new revision disregards the form of ownership under which a landlord operates. The law sunsets in October of this year, but the Council is working on a longer-term version. Read more.

(c) HFO Investment Real Estate, LLC

HFO Investment Real Estate LLC

2424 SE 11th Avenue

Portland, OR 97214 (503) 241-5541

Cody Hagerman, Principal Broker, licensed in Oregon & Washington

Portland-based HFO was founded in 1999 and specializes in the apartment sector of the commercial real estate market. The company is known for more than its ability to attract the largest possible pool of buyers. By offering additional client benefits including complimentary industry-specific events, market news, and original video programming via HFO-TV and Multifamily Marketwatch podcasts. HFO is a thought-leader within its category. From its inception, HFO has operated in sharp contrast to most of its industry competitors, using intra-office collaboration to provide service to more customers through sales velocity and loyal client relationships.